NTL logo in blue and gold
Member Login
Member Directory
ntl-top-100-logo-345px
Member Directory

Federal Judge Signs Off on Genesis’s $21M Settlement With SEC

A federal judge signed off on bankrupt crypto firm Genesis Global Capital’s settlement with the Securities and Exchange Commission over allegations a digital-asset lending program it helped run violated the agency’s rules.

Genesis will pay $21 million under the terms of the agreement approved by the judge on Monday. The SEC sued Genesis and Gemini Trust Co. in January 2023, alleging that the companies illegally raised billions of dollars’ worth of cryptoassets from investors through the so-called Gemini Earn program.

The program, which was launched in February 2021, allowed Gemini customers to collect as much as 8% in interest on their digital-asset holdings by loaning them to Genesis. The SEC has said the arrangement violated securities laws.

Read more at News.law

Find an Attorney

The National Trial Lawyers stands as an esteemed, exclusive association comprising top-tier trial attorneys nationwide. Whether you require a Civil Plaintiff Lawyer or a Criminal Defense Lawyer in your state, our network ensures access to premier legal expertise tailored to your needs.
Find Attorney

Read More Legal News

white NTL logo
© Copyright 2022, All Rights Reserved | National Trial Lawyers
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram